If the Principal Terminates the Agency: ______

question 53

Multiple Choice

If the principal terminates the agency: ______.

• A) the agent's authority to act for the principal is terminated automatically.
• B) the right of the agent to bind the principal to third persons generally ends immediately.
• C) the termination is not effective until notice is given to third parties.
• D) the termination is not effective until the agent receives the notice.

Discern the significance of arm's length transactions and how they relate to contract obligations and fairness.

Understand the concept of scienter and its importance in establishing fraud.

Differentiate between mistakes in contract terms and how they affect contract enforceability.

Recognize the elements required to establish a case of fraud, including reliance and misrepresentation.

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Definitions:

Loopback Plug

A troubleshooting device that allows port testing.

Port

In computing, a port is a communication endpoint, a physical or virtual connection point used for connecting devices or for data transfer between devices and a computer.

Nanometers

A unit of measurement equal to one billionth of a meter, often used to describe the scale of semiconductor components.

IOPS

Input/Output Operations Per Second; a performance measurement used to benchmark the speed at which storage devices can read and write data.